Q and A’s regarding the Aviva Equity Release Solicitor Panel from members of the public
My financial adviser has informed me that I have to pay Aviva Equity Release fees if I use my own solicitor. How efficient are the Aviva Equity Release conveyancing panel solicitors? I'm happy to use any solicitor in the country TBH provided that they are good and not exorbitantly priced. Are there any Aviva Equity Release conveyancers you'd recommend?
Aviva Equity Release’s conveyancing panel is pretty large so your best bet is just to check with the firms you are getting quotes from whether they are on it. You can search by postcode on the search tool on this site to find solicitors that Aviva Equity Release will allow to act for them.
I am purchasing a brand new duplex and my solicitor is advising me that she is duty bound to reveal incentives from the developer as her firm is on the Aviva Equity Release conveyancing panel. I am nearing the developer’s deadline to exchange contracts and I dont want to prolong matters. is my lawyer taking the correct approach?
You should not exchange unless you have advised to do so by your lawyer. A precondition to being on the Aviva Equity Release approved panel is to comply with the CML Handbook requirements (last updated for this lender on Aviva Equity Release). The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Are the lawyers identified as being on the Aviva Equity Release conveyancing panel, together with their details provided by Aviva Equity Release?
The law firm practices themselves provide us confirmation that they are on the Aviva Equity Release conveyancing panel as opposed to being supplied with a list from Aviva Equity Release directly.
I am selling my house. Does my solicitor have to be on the Aviva Equity Release conveyancing panel in order to deal with redeeming my mortgage?
Ordinarily, even if your lawyer is not on the Aviva Equity Release conveyancing panel they can still act for you on your sale. it might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently at the moment.
I have decided to exercise my right to buy my property off the council. I have a mortgage agreed with Aviva Equity Release. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event if you are getting a mortgage with Aviva Equity Release you will need to appoint a solicitor on the Aviva Equity Release conveyancing panel.
I have a mortgage with Aviva Equity Release. Conveyancing was finalised some time ago. If I am intending to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Aviva Equity Release?
Aviva Equity Release must be informed of your intention in advance of renting your property as this is likely to be a breach of Aviva Equity Release’s mortgage conditions. In many cases banks or building societies will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Aviva Equity Release directly. It should not be necessary to do this via a Aviva Equity Release conveyancing panel solicitor.
My ex -wife’s name is on the Aviva Equity Release mortgage of my property but not on the land registry. The apartment was transferred to me on our divorce many years ago by way of a sealed court order. Does my ex still have a say on the sale even though the land registry showing the property in my name alone? Will I be required to take her name of the Aviva Equity Release mortgage in order to sell?
As regards the Aviva Equity Release mortgage, it is unusual that your ex-wife’s name remains on the mortgage but not on the title. It is conceivable that this is an oversight on the part of your conveyancers to ensure that her name was removed or even an administrative error on the part of Aviva Equity Release in failing to update their data. In any event, it should cause difficulty providing her name no longer appears on the Land Registry title and you have a court order ordering that the property is transferred to you.